Which of the following statements is false regarding an assumption of inventory cost flow? The cost flow assumption need not correspond to the actual physical flow of goods

Which of the following statements is false regarding an assumption of inventory cost flow? The cost flow assumption need not correspond to the actual physical flow of goods. The LIFO assumption uses the earliest acquired prices to cost the items sold during a period. The cost flow assumption selected may not be changed regularly, The FIFO assumption uses the most recently acquired prices to cost the items on hand at the end of an accounting period More than one of these are false D Question 6 2 pts Assuming no beginning inventory, what can be said about the trend of inventory prices if cost of goods sold computed when inventory is valued using the FIFO method is lower than cost of goods sold when inventory is valued using the LIFO method? Prices decreased O Price trend cannot be determined from information given. Prices increased Prices remained unchanged.